WhiteHorse Finance Inc 2026年季度报告

Form10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGEACT OF 1934 For the quarterly period ended March31,2026 or ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGEACT OF 1934 Securities registered pursuant to Section12(b)of the Act: Indicate by check mark whether the registrant: (1)has filed all reports required to be filed by Section13 or 15(d)ofthe Securities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant wasrequired to file such reports), and (2)has been subject to such filing requirements for the past 90days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required tobe submitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or forsuch shorter period that the registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-acceleratedfiler, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer”,“accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule12b-2 of the ExchangeAct. Large accelerated filer☐ Non-accelerated filer☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant toSection13(a)of the Exchange Act.◻ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the SecuritiesExchange Act of 1934). Yes☐No⌧ As of May 7, 2026 the Registrant had 21,611,392 shares of common stock, $0.001 par value, outstanding. WHITEHORSE FINANCE,INC.TABLE OF CONTENTS PagePartI.Financial Information3Item1. Consolidated Financial Statements3Consolidated Statements of Assets and Liabilities as of March 31, 2026 (Unaudited) andDecember31, 2025 (Unaudited)3Consolidated Statements of Operations for the three months ended March 31, 2026(Unaudited) and 2025 (Unaudited)4Consolidated Statements of Changes in Net Assets for the three months ended March 31,2026 (Unaudited) and 2025 (Unaudited)5Consolidated Statements of Cash Flows for the three months ended March 31, 2026(Unaudited) and 2025 (Unaudited)6Consolidated Schedules of Investments as of March 31, 2026 (Unaudited) and December31, 2025 (Unaudited)8Notesto Consolidated Financial Statements (Unaudited)25Item2.Management’s Discussion and Analysis of Financial Condition and Results of Operations73Item3.Quantitative and Qualitative Disclosures about Market Risk93Item4. Controls and Procedures95PartII.Other Information95Item1.Legal Proceedings95Item1A.Risk Factors95Item2.Unregistered Sales of Equity Securities and Use of Proceeds95Item3.Defaults Upon Senior Securities95Item4.Mine Safety Disclosures95Item5. Other Information96Item6. Exhibits96Signatures97 Item1. Consolidated Financial Statements WhiteHorse Finance,Inc.Consolidated Statements of Assets and Liabilities (Unaudited)(in thousands, except share and per share data) WhiteHorse Finance,Inc.Consolidated Statements of Operations (Unaudited)(in thousands, except share and per share data) WhiteHorse Finance,Inc.Consolidated Statements of Changes in Net Assets (Unaudited)(in thousands, except share and per share data) WhiteHorse Finance,Inc.Consolidated Statements of Cash Flows (Unaudited)(in thousands) The following table provides a reconciliation of cash, cash equivalents and restricted cash reportedwithin the consolidated statements of assets and liabilities that sum to the total of the same amountspresented in the consolidated statements of cash flows: See notes to the consolidated financial statements WhiteHorse Finance,Inc.Consolidated Schedule of InvestmentsMarch31,2026 (Unaudited)(in thousands) WhiteHorse Finance,Inc.Consolidated Schedule of InvestmentsMarch31,2026 (Unaudited)(in thousands) WhiteHorse Finance,Inc.Consolidated Schedule of InvestmentsMarch31,2026 (Unaudited)(in thousands) WhiteHorse Finance,Inc.Consolidated Schedule of InvestmentsMarch31,2026 (Unaudited)(in thousands) WhiteHorse Finance,Inc.Consolidated Schedule of InvestmentsMarch31,2026 (Unaudited)(in thousands) WhiteHorse Finance,Inc.Consolidated Schedule of InvestmentsMarch31,2026 (Unaudited)(in thousands) WhiteHorse Finance,Inc.Consolidated Schedule of InvestmentsMarch31,2026 (Unaudited)(in thousands) Forward Currency Contracts (1)Except as otherwise noted, all investments are non-controlled/non-affiliate investments as defined by the InvestmentCompany Act of 1940, as amended (the “1940 Act”), and are domiciled in the United States.(2)The investments bear interest at a rate that may be determined by reference to Secured Overnight Financing Rate(“SOFR”), the Canadian Overnight Repo Rate Average (“CORRA”), the Sterling Overnight Ind